Stocks to Watch, 19 January: Stocks like Reliance Industries, HDFC Bank, ICICI Bank, Wipro, Tech Mahindra, IDBI Bank, Yes Bank, RBL Bank, UCO Bank, Indosolar, JB Chemicals and Pharmaceuticals, Bajaj Healthcare, and Bharat Coking Coal will be in focus on January 19.
Qualified institutional buyers bid for 24.61 billion shares of Bharat Coking Coal, about 311 times the number of shares on offer for them, leading the subscription demand for the IPO
The Coal India subsidiary is uniquely positioned to benefit from the demand upcycle because of its scale, reserve depth, and proximity to steel-producing clusters
Bharat Coking Coal IPO | BCCL has finalised allocation of 11.87 crore equity shares to anchor investors at Rs 23 per share.
Bharat Coking Coal IPO | The offer consists of entirely offer-for-sale of 46.57 crore equity shares by promoter Coal India, with no fresh issue component.
The miner plans to boost its production capacity from the current 41 million tonnes per year to over 100 million tonnes, with a capital expenditure of Rs 3,000 crore by FY'30, officials said.
This milestone follows BCCL's achievement of clearing its accumulated losses and reporting a net profit of Rs 1,564 crore for the financial year 2023-24, with a turnover of Rs 13,216 crore.
CIL arm Bharat Coking Coal Ltd this month increased the prices of coking coal by about 20 percent.
The Coal Consumers' Association of India (CCAI) today said hike in coal prices by Bharat Coking Coal will impact power consumers as energy cost will firm up by 20-40 paise per unit while the increase in coking coal and washery grade prices by Central Coalfields will affect the sluggish steel sector.
According to provisional data released by Coal India, Eastern Coalfields (ECL) has achieved a production of 40 million tonnes (MT) or 105 percent of the target of 38 MT set for the fiscal 2015, registering a growth of 11 percent over the previous year.
The company received orders worth Rs 773.42 crore (excluding today's order) during the current quarter from Bharat Coking Coal (a subsidiary of Coal India) and water resources department of Madhya Pradesh.
Coal India has introduced a one-time offer that allows power utilities to lift the fuel directly from mines. The scheme is available for independent power producers drawing coal under fuel supply agreements (FSAs) as well.
NC Jha, chairman of Coal India tells CNBC-TV18 that Bharat Coking has not yet received any notice from the Jharkhand pollution board. "Production continues and there is no diruption in providing coal to various sectors yet," he says.
State-run mining giant Coal India today blamed early rains and inclement weather in the eastern region for playing spoilsport in achieving its 98.7 million tonnes (MT) target for the first quarter.
Leading private power producer, Tata Power, today said it has achieved full-load generation of the 525 MW unit 1 of the Maithon mega power project at Dhanbad in Jharkhand.